Mutual of Omaha is financially strong and we continue to focus on growing our company. Our commitment to growth is what helps ensure that we’ll be around when it comes time for us to deliver on the promises we’ve made to our policyholders. This continued growth requires an investment of capital, and as a mutual company, we rely primarily on our earnings to create new capital. Recently, statutory earnings have been impacted by several economic factors, including a prolonged low interest rate environment. We’re proactively addressing this trend in 2020 to produce positive statutory earnings and maintain our long-term financial
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2020 Life Product Changes: Transition Rules
Effective January 1, 2020, we will be making changes to our life product portfolio, including discontinuing our Guaranteed Universal Life product, repricing our Level and Graded Living Promise Whole Life final expense products, repricing our Term Life Express Non-ROP product and discontinuing our Term Life Express 20-Year ROP product. Below is a summary of the transition rules. More information on these product changes and transition rules can be found in our 2020 Life Product Changes Frequently Asked Questions document. GUL and TLE 20-Year ROP policies: You will still be able to submit applications for GUL and TLE 20-year ROP
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Understanding your Exposure with Telephone Solicitations
Telephone solicitations are an important aspect of insurance marketing. Unfortunately, this has become a high-risk endeavor. The Telephone Consumer Protection Act of 1991, better known as the TCPA, was enacted to protect consumers from unwanted telemarketing calls and faxes. It imposes liability in the form of regulatory fines and incentivizes private plaintiffs to pursue claims with statutory damages of $500 to $1,500 per call, with no limit. Attorneys’ fees for defending TCPA actions can easily reach hundreds of thousands of dollars and multi-million dollar settlements are, unfortunately, a common occurrence. Agents and brokers are expected, and contractually required, to act
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Holiday Telephone Solicitation Bans for the Month of December 2019
Please be aware of the following holidays requiring a holiday telephone solicitation ban for the month of December. On Tuesday, December 24, 2019: Louisiana prohibits unsolicited marketing calls to residents in observance of a Governor declared holiday for Christmas Eve On Wednesday, December 25, 2019: Alabama, Louisiana, Mississippi, Pennsylvania, Rhode Island and Utah prohibit unsolicited marketing calls to residents in observance of Christmas On Tuesday, December 31, 2019: Louisiana prohibits unsolicited marketing calls to residents in observance of a Governor declared holiday for New Year’s Eve Holiday Telephone Solicitation Bans for the Month of December 2019 #goldencareagent #mutualofomaha
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Get Up to Speed on the IUL Express Process
An IUL Express policy is a great way to provide your clients with long-term life insurance protection using a simplified issue sales process. Our new IUL Express Process Video will take you through the step-by-step process for determining a premium, completing the application packet, understanding the underwriting process, and delivering the policy. You can also use the IUL Express Process Flyer. For even more information on our IUL Express product, as well as our other simplified issue products, visit our now Simplified Issue microsite: mutualofomaha.com/simple. Get Up to Speed on the IUL Express Process #goldencareagent #mutualofomaha #iul
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Rate Adjustments Effective March 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective March 1, 2020: Block of Business Impacted States LT50, NH50, HCA, NHA and LTA Maine For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder
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Learn the Basics: Living Promise
If you are a new agent or would just like to learn more about Living Promise (Final Expense) Whole Life Insurance, we’ve made it simple for you. We created this quick, informative video to teach you about the product features and some of the selling points of Living Promise. Or to view in a separate window, click here. If you have any questions, please contact your Mutual of Omaha’s Sales Support at (800) 693-6083 or email sales.support@mutualofomaha.com. Learn the Basics: Living Promise #goldencareagent #mutualofomaha
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Rate Adjustments Effective February 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective February 1, 2020: Block of Business Impacted States HCA and HCAR Florida For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders
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Thanksgiving Office Closing
Mutual of Omaha and its affiliates (United of Omaha and United World) will be closed on Thursday, Nov. 28, and Friday, Nov. 29, 2019, for the Thanksgiving holiday. Thanksgiving Office Closing #goldencareagent #mutualofomaha #thanksgiving
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Phone Health Interview (PHI) Hours
This past Spring we extended our client phone interview hours to give your clients more flexibility to complete their health interview. Our client interview team, (800) 775-3000, stays open 1-hour longer Monday-Thursday and is also open on Saturdays. Let your clients know they can call us later in the evening or even on a Saturday – whatever works best for their schedule. Operating Hours (Effective 3/4/19) Monday – Thursday: 8:00 a.m. – 8:00 p.m.(CST) Friday: 8:00 a.m. – 5:00 p.m. (CST) Saturday: 10:00 a.m. – 2:00 p.m. (CST) If you have questions, please contact your Sales Director or Account
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